USDCHF and USDJPY Intraday: Elliott Wave Analysis

USDCHF now also in fifth wave, heading up to 0.8960, short-term resistance
that may cause a temporary reversal down for an a)-b)-c) pullback. After that
pullback we will be looking straight up, probably next week.

USDCHF 1h Elliott Wave Analysis

USDJPY is reversing from 102.30 resistance where we suspect that market completed
a five wave rally up in A. We know that after every five waves correction follows,
so ideally pair is in three wave retracement back to 101.860/101.90 area where
set-back may find a base and then send prices up in wave C.

Gregor Horvat, based in Slovenia, has been in the forex markets since
2003. He is a technical analyst and individual trader who has worked for Capital
Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com.
EW-Forecast.com provides technical analysis of the financial markets, highlighting
behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/